Ex-Nomura trader readies $250 mln Asia vol hedge fund

Former Nomura Holdings Inc trader Jean-Noel Payer is preparing to launch a $250 million Asia-focused volatility hedge fund aiming to take advantage of price swings in Asian securities, in one of the biggest startups in the region this year.

Payer, 36, who was a managing director at Nomura and worked with trader Benjamin Fuchs at the bank, told Reuters that he was setting up Voltex Asia Capital Ltd in Hong Kong. His firm received regulatory clearance on Tuesday.